Update on Asian Food Collective's fiscal sponsor
Published on March 15, 2024 by Hanna
Hello!
Our fiscal sponsor, Open Collective Foundation has announced that they will be dissolving by the end of the year. As of March 15th we are unable to accept monetary donations through the Open Collective platform and all recurring donations have been paused.
I have met with several organizations this past week and will announce our new fiscal sponsor when details are finalized. To continue supporting our work, you can follow us on Instagram and volunteer to cook on Saturdays.
Warmly,
Hanna
Founder, Asian Food Collective
FAQ
Is Asian Food Collective shutting down?
NO. We still have access to our funds and will continue to run as planned.
Will the Asian Food Collective lose it's current balance?
Open Collective Foundation has stated that they will hold all funds until September 30, 2024. Since we are currently in discussion with several potential fiscal sponsors, all funds will be transferred before this deadline.
What is a fiscal sponsor?
A fiscal sponsor is a registered nonprofit organization with 501c(3) status. A fiscal sponsor is able to support smaller nonprofits and groups, which allows these smaller groups to also have 501c(3) status.
Why doesn't the Asian Food Collective apply to be a registered nonprofit?
The Asian Food Collective is entirely volunteer-led. Being a registered nonprofit entails a lot of legal and financial oversight and commitment that we do not have the capacity for.
Our fiscal sponsor, Open Collective Foundation has announced that they will be dissolving by the end of the year. As of March 15th we are unable to accept monetary donations through the Open Collective platform and all recurring donations have been paused.
I have met with several organizations this past week and will announce our new fiscal sponsor when details are finalized. To continue supporting our work, you can follow us on Instagram and volunteer to cook on Saturdays.
Warmly,
Hanna
Founder, Asian Food Collective
FAQ
Is Asian Food Collective shutting down?
NO. We still have access to our funds and will continue to run as planned.
Will the Asian Food Collective lose it's current balance?
Open Collective Foundation has stated that they will hold all funds until September 30, 2024. Since we are currently in discussion with several potential fiscal sponsors, all funds will be transferred before this deadline.
What is a fiscal sponsor?
A fiscal sponsor is a registered nonprofit organization with 501c(3) status. A fiscal sponsor is able to support smaller nonprofits and groups, which allows these smaller groups to also have 501c(3) status.
Why doesn't the Asian Food Collective apply to be a registered nonprofit?
The Asian Food Collective is entirely volunteer-led. Being a registered nonprofit entails a lot of legal and financial oversight and commitment that we do not have the capacity for.